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ATTACHMENT C <br /> `W` ADVANCE PAYMENT—INTEREST EARNED MEMORANDUM <br /> "SAMPLE DOCUMENT" <br /> TO: Dena VanLandingham,Beach Management Funding Assistance Program,MS#3511 <br /> FROM: Lydia Louis,Finance and Accounting Director,Bureau of Finance and Accounting,MS#78 <br /> DATE: <br /> SUBJECT: Advance Payment—DEP Agreement No.: XXXX <br /> BECP Project No.: XXXX <br /> Interest Due to DEP: (Quarterly) <br /> Pursuant to Section 216.181(16)(b), Florida Statutes, and paragraph 11 of the AGREEMENT, advance payments must be deposited <br /> into an interest bearing account until all funds have been depleted. In order to comply with this statute,advance approval of the State <br /> Chief Financial Officer, and the terms of the above referenced contract,the following information is needed for our records no later <br /> twenty(20)days following each calendar quarter(i.e.January 20,April 20,July 20 and October 20.) <br /> Advance funding disbursed(date ofdisbursement) $ <br /> 1. Advanced funds expended by contractor covering period of <br /> (agreement execution)to(end ofmost recent calendar qtr) $ <br /> 2. Balance advance funding principal available $ <br /> 3. Interest earned on advanced funds covering period of <br /> �..- (agreement execution)to (end ofmost recent calendar air) $ <br /> 4. Amount of interest paid to DEP as of(end ofmost recent calendar gtr) $ <br /> 5. Balance Due to DEP as of(end ofmost recent calendar gtr) $ <br /> (Project Manager's Signature) (Date) <br /> Special Instructions: If the grant/contract specifies that any accrued interest that is based upon a grant/contract advance <br /> payment(s)will not be paid to DEP until after termination of the grant/contract,the advance fund recipient shall complete <br /> report items 1 and 2 only for the first three quarters of the state's fiscal year. The report for the state's fourth fiscal year <br /> quarter shall include items 1,2,3,4,and 5. Items 3,4,and 5 will be the life to date interest. <br /> If the contract states that no interest is due,quarterly reports of unexpended advances are required,lines 1 and 2. <br /> The lines 1 and 2 reported amounts are on a cash basis for the advance payment principal. Do not include receivables, <br /> payables,or interest previously paid to DEP. <br /> If the grant/contract requires quarterly accrued interest payments to DEP,the fund recipient must complete items 1 through 5 <br /> for each quarterly report. <br /> Payments of interest due to DEP shall be paid within the specifications of the contract/grant. <br /> Thank you for your cooperation in providing the above information. If you have questions,please contact Lydia Louis(850) <br /> 245-2452 in the Contracts Disbursement Section. <br /> DEP Agreement No. 14IR2, Attachment C,Page 1 of 1 <br /> 47 <br />